07/16/2026
The IRS has announced a mid-year increase to the standard mileage rates due to higher fuel costs.
New Rates (Effective July 1 – December 31, 2026):
Business: 76¢ per mile (up from 72.5¢)
Medical: 23.5¢ per mile (up from 20.5¢)
Qualified Moving (eligible active-duty military): 23.5¢ per mile (up from 20.5¢)
Charitable: 14¢ per mile (no change)
⚠️ Important: If you claim the standard mileage deduction, you’ll need to separate your mileage records:
January 1 – June 30, 2026 → 72.5¢ per mile
July 1 – December 31, 2026 → 76¢ per mile
Keeping accurate mileage logs is more important than ever. A well-maintained record could mean a larger tax deduction at tax time ✅.
Need help maximizing your business deductions while staying IRS compliant? 📩 Contact Medzam Consulting, we’re here to help you make informed fiscal and financial decisions.